TSX Down 35 Points With Energy Posting The Biggest Losses -- Miners The Biggest Gainer
The TSX is down 35 points this morning with energy posting the biggest losses -- the sector is now down 1.32% as oil prices tumble after indications of a strong recovery in U.S. oil drilling activity. This eclipsed news that OPEC and non-OPEC producers were on track to meet output cuts.
Crude oil is now at US$52.60.
Miners are the biggest gainer, up 0.97% on higher gold, silver and copper prices .
Desjardins writes that with growth of 17.5%, the S&P/TSX was one of the world's top performing stock markets in 2016. The TSX was boosted by renewed foreign interest -- after dropping to almost zero in 2015, the 12-month total for net foreign purchases of Canadian shares hit $46 billion in November. The rebound of share purchases took foreign investment in Canadian securities to a new historic peak, it said.
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